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What is loan default and why should you avoid it?

loan default

Loan default is a situation where the borrower fails to make payments on a loan, causing the lender to suffer a financial loss. This can happen for a variety of reasons, including job loss, illness, or simply not being able to afford the monthly payments. If you are thinking about taking out a loan, it […]

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The Effects of Default on Loan Repayment

When a person applies for a personal loan from a bank, they are legally obligated to repay the loan on time. Even if the borrower intends to repay the advance in full, it is possible that he or she will be unable to do so. Reasons for Loan Default Loan default can occur for a […]

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Are You A Loan Defaulter? Know Your Rights!

It cannot be disputed that loans are a person’s biggest liability and must be repaid in a timely manner. In fact, the entire process of taking a loan and getting it approved is challenging. To add insult to injury, job loss, unemployment, and other misfortunes could lead to troubles when it comes to repaying the […]

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Borrowers Face EMI Crisis Due To COVID-19

Ragini (name changed) is a woman who had never previously defaulted on any kind of loan until March 2020. Now, loan recovery agents make her rather stressed. She is a 32-year-old teacher who lives in Visakhapatnam. When COVID-19 struck, and a lockdown was imposed in the country, she lost her job, and ever since then; […]

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